Announcement • Apr 23
United Bankers Oyj (HLSE:UNITED) completed the acquisition of Fourton Oy from Q-Capital Oy, Matti Kukkarossa Oy, MOJ Consulting Oy, Emenoma Oy and Mikael Wahlström for €6 million. United Bankers Oyj (HLSE:UNITED) agreed to acquire Fourton Oy for €4.2 million on February 11, 2026. The consideration consists of common equity of United Bankers Oyj having a value of €4.2 million to be issued for common equity of Fourton Oy. The transaction is intended to be executed as a share exchange. The fixed purchase price will be determined on the basis of certain financial figures and is estimated to be approximately €4.2 million. The final amount of the fixed purchase price will be confirmed on the closing date of the transaction. Subject to certain conditions, the sellers may be entitled to an additional purchase price, payable three years after the closing date of the transaction, and the maximum amount of which will be determined on the closing date of the transaction. All the key and other personnel of Fourton will continue as employees of United Bankers Group after the closing of the transaction.
For the period ending December 31, 2025, Fourton Oy reported total revenue of €1.3 million and EBIT of €0.4 million.
The transaction is subject to certain conditions such as regulatory approval by the Finnish Financial Supervisory Authority, share issuance authorization by the Annual General Meeting of United Bankers, and the fulfillment of certain customary conditions precedent. The expected completion of the transaction is March 25, 2026.
United Bankers Oyj (HLSE:UNITED) completed the acquisition of Fourton Oy from Q-Capital Oy, Matti Kukkarossa Oy, MOJ Consulting Oy, Emenoma Oy and Mikael Wahlström for €6 million on April 23, 2026. As part of consideration, the purchase price of Fourton's shares is paid through a directed share issue of United Bankers shares and a cash consideration of €1.1 million. In addition, the Sellers have the option, subject to certain conditions agreed in the contract of sale, to receive an additional earn-out consideration of up to €1.8 million in total, which will be paid three years after the Closing of the transaction. The Board of Directors of United Bankers has today resolved to issue 163,523 new shares in United Bankers for subscription to the Sellers based on the authorization given by the Annual General Meeting held on 20 March 2026. The subscription price of the share will be paid in kind at a price of EUR 18.54 per share and it will be determined on the terms and conditions agreed in the acquisition, based on the volume-weighted average price of the United Bankers share during the period 1 January–22 April 2026. The directed share issue is carried out as part of an arrangement that supports United Bankers' growth strategic objectives, so there is a weighty financial reason for the company to deviate from the pre-emptive subscription right of United Bankers' shareholders. The new shares issued and subscribed for in the share issue represent in aggregate approximately a 1.47 per cent ownership in United Bankers after the registration of the new shares. Following the share issue, the total number of shares issued by United Bankers is 11,126,566 shares. Following the Closing, United Bankers will hold 100 per cent of the votes in Fourton. The new shares are intended to be registered at the Finnish Trade Register on or about 28 April 2026. Trading in the new shares on the official list of Nasdaq Helsinki Ltd is expected to commence on or about 29 April 2026. Declared Dividend • Apr 01
Dividend of €0.58 announced Shareholders will receive a dividend of €0.58. Ex-date: 24th September 2026 Payment date: 2nd October 2026 Dividend yield will be 6.3%, which is about the same as the industry average. Sustainability & Growth Dividend is not adequately covered by earnings (98% earnings payout ratio) nor is it covered by cash flows (200% cash payout ratio). The dividend has increased by an average of 9.7% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 8.8% to bring the payout ratio under control. EPS is expected to grow by 52% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. Price Target Changed • Mar 16
Price target increased by 12% to €19.00 Up from €17.00, the current price target is provided by 1 analyst. New target price is approximately in line with last closing price of €19.00. Stock is up 9.8% over the past year. The company is forecast to post earnings per share of €1.19 for next year compared to €1.18 last year. 
